Real estate values are constantly moving up and down.
House values appreciate in the long term by and large.
But, of course, there are no guarantees in real estate.
When your home appreciates you have a larger asset to borrow against, and you'll generate a bigger profit when you sell.
But how do you know what you're investing in now will appreciate over time? Property values in Burlington vary for many different reasons.
Choosing an agent in Burlington who is familiar with the factors that influence local prices is the most important thing.
A lot of people believe that the economy is the most influential factor affecting real estate appreciation.
interest rates, unemployment, job growth, government programs and many other national factors have a noticeable influence on your house's worth.
However, your house's value and the features that play the biggest role in its appreciation are particular to the local Burlington economy and housing market.
Location in a community - Convenient access to schools, work and amenities like shopping, restaurants and entertainment is a big deal to a lot of families and will greatly influence home values.
So when it comes to holding their value, these regions often appreciate the best.
Recent home sales - You should receive information on the recent real estate sales in the districts that you're asking about from your real estate agent. You'll want to know things like how long a house stays on the market and listing price as opposed to selling price.
History of appreciation - In the past 5 to 10 years, have property prices risen or declined? Does location or affordability affect how desirable the community is thought to be?
The local economy - Are local businesses hiring? Have businesses moved into or away from an area? Is there a fair blend of job types in an area, or does it rely upon just one industry? Is the blend of commercial and residential zoning changing?
These items play a part.